Leading independent forecourt group MPK Garages has partnered with cash handling solutions business Volumatic to help streamline its cash handling.
The group, which completed the roll out of Volumatic’s one-touch cash solution CCi (CounterCache intelligent) at their entire estate last month, said the move has transformed the business on every level and cut cash loss by 96 per cent.
the CCi cash solution checks, counts and safely stores banknotes at the point of sale, minimising cash contact for safety and creating a closed-cash loop.
“Volumatic’s CCi has really made transactions much easier in our sites thanks to its one-touch element. At the point of sale, once we have deposited the cash, we don’t touch it again; only the bank does during processing. We love that cash exposure in our stores is minimised to just the customer transaction,” commented Wayne Harrand, retail director at MPK Garages.
Significantly, the safe, tamper-evident storage allows store staff to focus on customer service and provides the convenience stores the peace of mind that the risk of theft is reduced, and staff are not responsible for scrupulous forgery checks. Instead, the CCi does the forgery checks, aligned with the Bank of England forgery framework.
Cash is still a prominent payment choice for MPK Garages with more than 60 per cent of all transactions made in cash.“We removed all cash risks from the business. So much so, in the last six months, we have reduced cash loss by 95 per cenrt across our whole estate. In terms of theft of cash, we have saved so much money as access to cash is so limited,” Harrand added.
As convenience stores and forecourt sites look to increase colleague safety while also increasing cash efficiency, cash handling technologies in-store can be transformative. As well as cutting cash loss across the MPK estate, CCi has also significantly helped the business during the pandemic.
“The CCi has absolutely been a benefit during Covid with total visibility and control. At the height of the pandemic, we had failed collections due to restraints, so the CCi gave us an extra level of security. Colleagues feel much safer as their contact with cash is reduced and reduces the risk of theft,” said Harrand.
Mike Severs, sales and marketing director at Volumatic, said: “MPK Garages strong focus on growth and operational efficiencies has been greatly helped by ensuring they have a clear cash position. Utilising our CCi alongside their CashView Enterprise software means that MPK Garages have complete cash visibility, essential for cash flow and for analysing cash within the business.
“Our goal is to deliver intelligent cash handling products that increase convenience stores’ profits through improved process efficiency, enhanced security and reduced theft. We are seeing a huge increase in the number of convenience stores using CCi to improve efficiency of how they handle cash. CCi saves time and saves money and it enhances security because it is in a security deposit device at the till point. If an independent convenience business is serious about reducing cash loss and wants to grow efficiencies, they should be looking at CCi as an option.”
The CCi from Volumatic is one the successful global intelligent deposit systems with over 35,000 units installed and 10,000 lanes scheduled for this year.